MORNING MARKETS

Markets are lower yet again on the heels of credit worries and lower overseas markets. The biggest losers are small caps and value oriented stocks. The NDX is also strong on the heels of AAPL GOOG AMZN etc.

Strongest sectors include biotech, tech, internets and defense while airlines, brokers, homies, metals and oils act the worst.

Interesting action as the following stocks are green- CROX AAPL AMZN GOOG HPQ RIMM NFX ICE MCRI INFY CELG DNA MRK.

Volatility indexes way up again and the VIX is now at 19.5 and trading 16% above its 10 day SMA. If you look at days when the VIX was this far stretched, it was generally a pretty good time to buy for a short term profit.

In spite of higher crude, oils and refiners are lower yet again- just wonder how much they are going to bounce when the markets turn higher.

Other stuff:

Ags- lower, but I suspect buying CNH DE MON MTW in these areas will pay off pretty well down the road;

Brokers and banks way lower again;

Biotech - DNA CELG BIIB GENZ all green;

Metals crushed on the heels of lower gold and silver- BHP FCX PAAS SSRI probably worth a dip here;

Retail all red with the exception of CROX- COST DECK GES KSS LTD M PVH SHLD TIF TGT UA - all ugly;

Tech about the strongest group with AMZN HPQ IBM NVDA RIMM AAPL all green in the face of ugly indexes.